PRESS RELEASE

Salvatore Rossi, President of the Istituto per la Vigilanza sulle assicurazioni (IVASS, Institute for Supervision of the Insurance Sector) and Giovanni Pitruzzella, President of the Autorità Garante della Concorrenza e del Mercato (AGCM) signed a Memorandum of Understanding to develop mutual cooperation in various fields.

The Memorandum, which owes its origin to the laws of the respective institutions, envisages enhanced collaboration between the two Authorities to be implemented also by means of the exchange of information and data acquired in the exercise of the functions attributed to them, while always respecting the principles of autonomy and independence.

In particular the Memorandum aims to foster the development of cooperation through:

‐ the coordination of institutional actions in areas of common interest, exchange of views, surveys, reports to legislative organs, joint initiatives in the fields of enforcement, vigilance and control, including the possibility of joint inspections;

‐ the setting up of working groups aimed at addressing critical profiles in the market for vehicle insurance or at defining issues related to consumer protection;

‐ the possibility of defining modalities for mutual cooperation in the performance of specific functions and activities by means of subsequent Memoranda.

The whole document is available on the sites www.ivass.it and www.agcm.it.

Rome, 02^nd August 2013